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Chapter 9: Show Me the Money!: Monetizin... > Chapter 9: Show Me the Money!: Monet... - Pg. 151

When I was a kid, I realized pretty quickly that I needed more money than the small allowance I was getting every week for making my bed. Like most 10-year-olds, I wanted to buy things like baseball cards and an awesome shiny red bike I had seen in a magazine. School was out for the summer and since my cousin had similar aspi- rations as me, we decided to sell lemonade from a stand on the sidewalk with hopes of making some money. We were two cute little kids selling lemonade for a dollar a cup and we thought that we were going to be an instant hit. To our surprise, we didn't make that much money. Setting up the stand and making all those drinks ended up being a lot of work. We were deter- mined and we kept at it for a few weeks before we realized there had to be a better way. If we were ever going to get those amazing bikes, we needed to make some changes, and make them quickly. First, we tried charging two dollars per cup thinking that would make us more money; that actually made us less money because fewer people were buying. Next, we changed the time of day when we were selling the lemon- ade, figuring that we'd get the most amount of buyers around five o'clock when people were getting off work. This move did increase the number of people stopping by, and we started to sell more lemonade. Unfortunately, we still had the same problem. Selling cups of lemonade was not making us nearly as much money as we had anticipated because people were spending $1 and leaving. Things were moving too slowly, and we felt deflated and completely frustrated. What were we doing wrong? Were we not that cute after all? On the day our short-lived careers as lemonade entrepreneurs were about to end, we had an aha moment. We realized that most of our cus- tomers were stopping by before they headed to the grocery store to pick up food for dinner. This gave us an idea. We were doing well drawing people in but it seemed that we were not able to get the people who were stopping by to spend much money. Selling lemonade alone wasn't going to make us enough money to buy those bikes. If we could sell them some of the food they were going to buy at the grocery store, we could make money faster. 151